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About the SWOT Analysis Tool
This analysis tool assists business with planning, helping them to achieve their goals, and manage potential risks. The analysis focusses on both internal and external factors related to the business. SWOT is an acronym and stands for: Strengths, Weaknesses, Opportunities and Threats.
Features of a SWOT Entry
There are a variety of ways a SWOT entry can look, and your task will dictate how you complete your SWOT. However, there are three features which each entry should have.
- A statement of facts/evidence – data where relevant
- Analysis of how that fact impacts the business
- A source for the facts
- Give the entry a heading (Headings will help you identify relationships)
SWOT Analysis Template
Strengths
Features:
- internal to the business and within the organisation's control
- can be both tangible and intangible
- positive
Consider:
- Management
- Operations
- Finances
- marketing
- Human Resources
Ask yourself:
- What does the business do well?
- This can include:
- the type of product/service
- loyal customer base
- strong branding
- This can include:
Sources of information:
Research the business and gather information from:
- Company Reports (IBISWorld (Log in > Sign in using SSO > use school email address), company website: About Us page)
- Annual Reports
- Interviews with the organisation's CEO
- General Google search
Additional Links:
- An Essential guide to SWOT Analysis"SWOT analysis is a methodological tool designed to help workers and companies optimize performance, maximize potential, manage competition, and minimize risk. SWOT is about making better decisions, both large and small. It can help you determine the efficacy of something as small as introducing a new product or service or something as large as a merger or acquisition ... "
- SWOT Analysis | Queensland Government"A SWOT analysis tool is one of the most effective business and decision-making tools. SWOT analysis can help you identify the internal and external factors affecting your business ... "
- Develop your SWOT Analysis | Australian Government"You can better understand your businesses strengths, weaknesses, opportunities and threats by using a SWOT analysis. Identify what your business is doing well and how you can improve with our SWOT analysis template ... "
Weaknesses
Features:
- internal to the business and within the organisation's control
- can be both tangible and intangible
- negative
- hinder a business from performing at its optimum level
Consider:
- Management
- Operations
- Finances
- marketing
- Human Resources
Ask yourself:
- What does the business need to address?
- This can include:
- poor reputation
- high levels of debt
- lack of capital/equity
- This can include:
Sources of information:
Research the business and gather information from:
- Company Reports (IBISWorld (Log in > Sign in using SSO > use school email address), company website: About Us page)
- Annual Reports
- Interviews with the organisation's CEO
- General Google search
Additional Links:
- An Essential guide to SWOT Analysis"SWOT analysis is a methodological tool designed to help workers and companies optimize performance, maximize potential, manage competition, and minimize risk. SWOT is about making better decisions, both large and small. It can help you determine the efficacy of something as small as introducing a new product or service or something as large as a merger or acquisition ... "
- SWOT Analysis | Business Queensland
"A SWOT analysis is a simple tool to help you work out the internal and external factors affecting your business. It is one of the most commonly used business analysis and decision-making tools ... " - Develop your SWOT Analysis | Australian Government"You can better understand your businesses strengths, weaknesses, opportunities and threats by using a SWOT analysis. Identify what your business is doing well and how you can improve with our SWOT analysis template ... "
Opportunities
Features:
- external to the business and outside of the organisation's control
- can be both tangible and intangible
- positive
Consider:
- Industry
- Marketplace
- Competition
- Socio-cultural Trends
- Technological Factors
- Environmental Concerns
- Economic Trends
- Political Relationships
- Legal Constraints
- Ethical Issues
Ask yourself:
- What elements exist that can contribute to a business gaining a competitive edge?
- This can include:
- emerging market for a product
- potential for global expansion
- unfavourable economic conditions
- This can include:
Sources of information:
Research the industry and current business environment by gathering information from:
- Business Environment Profiles and Industry Reports (IBISWorld (Log in > Sign in using SSO > use school email address), company website: About Us page)
- RBA Key Economic Indicators: Key Economic Indicators Snapshot | RBA
- Annual Reports
- Interviews with the organisation's CEO
- General Google search
Additional Links:
- An Essential guide to SWOT Analysis"SWOT analysis is a methodological tool designed to help workers and companies optimize performance, maximize potential, manage competition, and minimize risk. SWOT is about making better decisions, both large and small. It can help you determine the efficacy of something as small as introducing a new product or service or something as large as a merger or acquisition ... "
- SWOT Analysis | Business Queensland"A SWOT analysis is a simple tool to help you work out the internal and external factors affecting your business. It is one of the most commonly used business analysis and decision-making tools ... "
- Develop your SWOT Analysis | Australian Government"You can better understand your businesses strengths, weaknesses, opportunities and threats by using a SWOT analysis. Identify what your business is doing well and how you can improve with our SWOT analysis template ... "
Threats
Features:
- external to the business and outside of the organisation's control
- can be both tangible and intangible
- negative
Consider:
- Industry
- Marketplace
- Competition
- Socio-cultural Trends
- Technological Factors
- Environmental Concerns
- Economic Trends
- Political Relationships
- Legal Constraints
- Ethical Issues
Ask yourself:
- What elements exist that can negatively impact on the performance of a business?
- This can include:
- increasing competition
- decline in the industry
- unfavourable economic conditions
- This can include:
Sources of information:
Research the industry and current business environment by gathering information from:
- Business Environment Profiles and Industry Reports (IBISWorld (Log in > Sign in using SSO > use school email address), company website: About Us page)
- RBA Key Economic Indicators: Key Economic Indicators Snapshot | RBA
- Annual Reports
- Interviews with the organisation's CEO
- General Google search
Additional Links:
- An Essential guide to SWOT Analysis"SWOT analysis is a methodological tool designed to help workers and companies optimize performance, maximize potential, manage competition, and minimize risk. SWOT is about making better decisions, both large and small. It can help you determine the efficacy of something as small as introducing a new product or service or something as large as a merger or acquisition ... "
- SWOT Analysis | Business Queensland"A SWOT analysis is a simple tool to help you work out the internal and external factors affecting your business. It is one of the most commonly used business analysis and decision-making tools ... "
- Develop your SWOT Analysis | Australian Government"You can better understand your businesses strengths, weaknesses, opportunities and threats by using a SWOT analysis. Identify what your business is doing well and how you can improve with our SWOT analysis template ... "